Real estate experts say it is easier to save money by refinancing a $300,000 home than by buying a house in the Phoenix area.
Real estate experts agree that it is better to buy a home in the Tucson area, Tucson Real Estate and Urban Development Director Michael Zegler said.
He said a $500,000 or $600,000 house in Phoenix can be bought for $500 to $600 million, while the same house in Tucson could be sold for $2 million or $2.5 million.
If you can afford to buy the house, then you can pay down the debt faster and make the mortgage more affordable, Zeglers said.
A $300-million house in Southern Arizona could be bought with cash.
A house in San Bernardino, California, could be purchased with cash, according to Zegliers.